Migration: POL price 1.00

Question

Upon migration POL has a list price $1.00 (one dollar). Why is this?

Answer

Most ILS allow for transactions to be of value 0.00 for all purchase orders (encumbrances/commitments). In Alma, fund transactions can be of 0.00 amount only when it is an encumbrance and when the associated PO is of type GIFT or DEPOSITORY. All other encumbrances (not GIFT or DEPOSITORY) of amount 0.00 are changed to 1.00. upon migration to Alma.

Once you invoice the POL, you enter the Price at the actual price you are paying for the item ordered.

Additional Information

At the end of your fiscal period, you run fiscal close (Rollover PO Lines) where you have the option to roll over based on expenditure. For example: *POL list price is $1.00 *Invoice price is $100.00 *Run Rollover PO Line with New Encumbrance Calculation set to Expenditure *The rolled over POL will roll over as $100.00